Scholarly Publication

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Browsing Scholarly Publication by Author "Adebayo, Philips Olugbenga"

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    Deposit Money Banks’ Lending Policy on Access to Credit: A Study of Selected Packaged Water Ventures in Ilorin Metropolis
    (International Journal of Economics and Development Policy (Gombe State University, Gombe)., 2021-12-03) Adebayo, Philips Olugbenga
    Small businesses have in recent time contributed immensely to global economic output. However, in Nigeria, poor access to credit facilities from deposit money banks (DMBs) has constituted a serious impediment to the growth potential of the subsector. This study examined the impact of DMBs lending policy on credit access to SSEs in Ilorin metropolis. Descriptive survey design was adopted for the study involving twenty-seven (27) packaged water ventures selected using purposive sampling technique. Research hypotheses were tested with regression analysis, correlation and t-test statistical tools at 0.05 alpha levels. The results obtained from the analyses showed that interest rate has negative effect on credit access. The findings further revealed that collateral requirements (landed assets, other assets/facilities) significantly affect working capital loan. More so, it was revealed that business record such as financial statement, sales records, bank account records, business plan, customer record and evidence of insurance service have positive effect on credit access. The study concludes that both interest rate policy and collateral requirements have combined effect on credit access from DMBs to SSEs. It was recommended among others that management of deposit money banks should be strategic at implementing and or executing interest rate while the regulatory body and other stakeholders should regularly review the market trends and other parameters while making lending policies. Keywords: Deposit money bank, lending policy, credit access, collateral, interest rate
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    Developing Informal Financing Option for Rural SMEs Growth: a Case of Selected Local Government Areas of Kwara State, Nigeria
    (International Journal of Management Sciences and Business Research, 2015-09-05) Adebayo, Philips Olugbenga
    Based on statistical evidences in the last couple of years, Nigeria’s economy is one of the rapidly growing in the world and the fastest growing in Africa. However, in real terms, its people are the most impoverished with high poverty concentration in the rural areas. This study investigates Small and Medium Enterprises (SMEs) and how the informal financing option could boost their performance in the rural areas. A sample of 185 SMEs was selected in a cross- sectional survey research design across two (2) Local Government Areas of Kwara State who are typically rural areas. The returned questionnaires of 125 i.e. (78.1%) were according analyzed using regression and t-test analyses. The findings show that 91.2% of the sample relied only on informal sources of finance for their businesses while 4.0% and 4.8% have accessed the formal and government funding respectively. The study concludes that informal financing option is germane to improving rural SMEs as this will create business expansion, provide more jobs and ultimately reduce high rate of poverty in the rural communities. The paper recommends that government should through Central Bank of Nigeria (CBN), Bank of Industry (BOI), Bank of Agriculture (BOA) etc. provide special intervention fund for informal financing channels. Furthermore, international NGOs such as FATE, MTN, Bill and Merlyn Foundations, and other international financial institutions such as African Development Bank (AfDB) International Finance Corporation (IFC) should develop a partnership programme with informal finance providers in Nigeria.
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    Impact of Government Entrepreneurial Programmes on Youth SMES Participation in Nigeria
    (2015-08-03) Adebayo, Philips Olugbenga
    Globally, the youth have been considered as prime mover of Small and Medium Enterprises (SMEs) due to their creative ability, energy and the drive to achieve. However, weak entrepreneurial climate has been a major constraint militating against the drive for self-reliance and economic autonomy and has resulted to increasing rate of unemployment, vandalism and other social vices among the youth. This study attempts to examine the relationship between government entrepreneurial programmes on youth SMEs participation in Nigeria. A survey of 250 questionnaires was undertaking through an online platform across the beneficiaries of federal governmental SMEs financial intervention schemes – Youth Enterprise with Innovation in Nigeria (YouWiN). The data collected were analyzed utilizing correlation and multiple regression statistical tools. The study concludes that government intervention programmes such as financial, infrastructural and capacity building is paramount to new venture creation among the youth. The findings further reveal a significant positive correlation between availability of fund and new venture creation. The study recommends conscious youth entrepreneurial orientation and capacity development programmes through the outlets of Small and Medium Enterprise Development Agency of Nigeria (SMEDAN). Furthermore, more financial intervention schemes such as grants and soft/special loans should be provided to young entrepreneurs as this will alleviate a major constraint to new venture creation which is poor access to finance.